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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Jan 08, 1916
Page
14
New York traders kept a cautious tone as Gary Statement and Berlin terms influenced early losses. United States Steel steadied near 86 to 87, while American Can and petroleum shares rose. foreign exchange weakened with sterling down and marks at new lows.
Daily bond listings show numerous issues with varied prices and maturities. Notable entries include American Agricultural 103, American Telephone 4 percent, Chesapeake and Ohio 4 percent, Chicago Great Western 4, and New York Central debentures, with state and utility bonds across several railroads and rail-related outfits. Prices range around mid to high 90s for many issues, with several 4s and 6s cited and many in the 100s region.
Baltimore markets show bids and asks across coal and power shares with Consolidation Coal at 102 percent and United Rys. & Elec at 61 percent. New York mercantile paper presents varied rates for sterling francs marks rubles and foreign cables with mixed demand and cables around 4 to 5 percent.
Percival Farquhar had an ambitious plan to build railways and develop Bolivian oil fields, but European funding collapsed during the war, forcing a halt. Charles A. Stone, named head of a major American corporation, is seen as best judge of public utility value and may pursue Farquhar’s South American railway and oil ideas using available resources. The article notes a broader shift of about $1.6 billion in American securities repatriated from Europe and references rising automobile industry expectations in 1916.
Local stock exchange notes regular sales at 12 o'clock noon including Norfolk and Washington Steamboat entries with prices around 800 at 105 percent for Washington Railway and Electric preferred, 285 at 83, 15 at 83, 8 at BAX. Other items reference Linotype and various entries, though text is fragmented.
United States Treasury reports general fund net balance 169,033,213 with receipts 2,027,067, payments 5,055,282 and a fiscal year deficit of 352,430,162 versus 59,829,320 last year excluding Panama Canal and public debt. Revenue on day 1,980,094.02. ordinary disbursements 2,771,616.83. year to date receipts 8,653,200.92. total cash assets 1,696,430,553.75 including gold and silver reserves. bank notes redeemable this month 127,712.00.
Local listing shows poultry roosters ducks turkeys and dressed and live chickens with prices per pound. Cheese butter eggs and vegetables including potatoes onions peppers and greens listed alongside New York State cheese and Elgin butter prices. Wheat corn oats and grain futures follow market actions with declines and openings across multiple futures contracts.
Wall Street activity runs large in the South as the Louisville and Nashville Railroad reports December revenues up 917188 from 1914 and November up 1035650. July to December 1915 revenues exceed the same period in 1914 by 3230387, per the month.
New York markets report receipts with mixed price ranges for steers cows and calves and steady sheep and lambs while hogs show no trading. Chicago entries show weak to lower hogs, firm cattle and lamb receipts with concerted price spreads across classes.
Philadelphia markets note butter steady and eggs steady with cheese quiet. Wheat prices ease while corn and oats hold firm. No. 2 red spot and January soy prices listed, reflecting mixed early trading.
New York market notes list butter steady with receipts about 5,986 and varied creameries and grades, cheese firm with state whole milk flats, poultry for dressed and fresh killed and prices for chickens fowls and turkeys, sugar centrifugal around 4.33 to 4.82, refined at 5.96, flour quiet, pork firm for family cuts, beef steady, lard easing to 10.15 10.25.
Commodity report from New York dated January 7 shows crude prime prices at 7.60, with summer yellow spot at 3.74 and futures for January 8.14 February 1.69 March 65, April 70, May 9.74 June 8.76 July 3.84 August 3.87 for yellow and white varieties quoted between 8.75 and 10.00.
A thin stock market in the last day’s trading shows few buyers and reluctant sellers. Washington Railway and Electric stock remained firm but limited by small trades. 40 shares of the preferred at 63 and 3 shares at 68 1/2 were all that could be taken at that level. Public utilities stayed steady with no sales. Mergenthaler gold and Norfolk and Washington steamboat trades minor. Graphophone stocks eased in bid prices, no pressure to sell. The only sale recorded was 800 dollars of Norfolk and Washington Steamboat at 105 1/2. Bond market dull and featureless with scant bid-ask spreads.
New York on January 7 reported nervous, irregular cotton trading with March slipping to 12.44 then rallying to 12.60. Cotton futures closed steady with minor gains after late-session strength. Copper, iron, and tin markets were firmer with electrolytic copper near 23.76 to 24.25, No 1 Northern iron 20.25 to 20.75, tin spot 42.00, London copper futures £87 10s, tin futures £174.
Mrs. John Dickinson Sherman spoke at the Twentieth Century Club on conserving Potomac land along the river to form a national park. She urged national park efforts, noting states preserve scenic regions, with DC following suit. Music by Greene and Atwater complemented a morning that included a business meeting and charitable drives.
The Washington Post reports University of Chicago professor and novelist Robert Herrick is defendant in a divorce suit filed by his wife Mrs. Harriet Emery Herrick first cousin whom he wed in 1895. She seeks support for herself and their 16 year old son Philip amid alleged desertion. Herrick’s attorney Thomas W Swan denies the desertion claim and argues Mrs Herrick not entitled to relief.
Alfred Brandeis, 32, president of the Brandeis Hosiery Company, attempted suicide in Philadelphia by shooting himself in the head. He was taken to Presbyterian Hospital in serious condition. His wife, Mrs. Brandeis, says he grew despondent as business fell off due to a dye shortage forcing half-time operation.
Spot markets show No 1 durum at 1.37% fob New York and No 1 northern Manitoba at 124. Futures unsettled with May at 1.34. Corn spot steady at No 2 yellow 8544 prompt. Oats steady. Hogs dressed at 6% for small to heavy, veal calves at 12, jambs 3 2.
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